Recognizing the transformative potential of start-ups, the Government has introduced several schemes is to support and nurture entrepreneurship, including women entrepreneurship. More than 73000 start-ups, representing nearly half of the 157066 start-ups supported by the government under the Start-up India Initiative have at least one-woman director, underscoring the crucial role women play in driving innovation and economic growth.
There are a number of schemes, initiatives implement by various Ministries, Departments of the Government of India across the country to financially support women. The schemes to provide skilling opportunities for women include Pradhan Mantri Kaushal Vikas Yojna (PMKVY) and Mahila Coir Yojana (MCY) which is a sub-component of the Coir Vikas Yojana, among others.
Some of the schemes to facilitate women entrepreneurs and start-ups include
(i) The Indian Patent Act that provides for expedited examination, when at least one of the applicants is a female. It is a concerted effort to encourage women innovators to file patent applications and protect their inventions.
(ii) Women entrepreneurs, who file for protection of their Intellectual Property in individual capacity, have to pay reduced fees as compared to other large entities. Patent filings by women has increased over 905% in the past 5 years. Women lead about one-third of the start-ups incubated under the Atal Innovation Mission’s Atal Incubation Centres which foster innovation at universities, institutions and corporates among others.
(iii) Stand Up India, Start Up India and MUDRA Yojna facilitate bank loans and entrepreneurial activities and have majorly benefitted women entrepreneurs.
(iv) The Credit Guarantee Scheme for Start-ups (CGSS) to provide credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance eligible borrowers including women as defined in the Gazette Notification issued by the Department for Promotion of Industry and Internal Trade (DPIIT) and amended from time to time.
(v) The Prime Minister Employment Generation Programme (PMEGP) which is a major credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector.
(vi) The Government has made enabling provisions in the Companies Act, 2013 mandating companies to have at least one-woman Director.
(vii) Schemes such as Pradhan Mantri Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) provides employment, self-employment and credit facilities to street vendors. Majority of the beneficiaries under these schemes are women.
In addition to the above schemes, there are several other schemes initiatives also implemented by nationalised banks to support women entrepreneurs. These include Mahila Udyam Nidhi Yojana, Dena Shakti Scheme, Stree Shakti Package for Women Entrepreneurs and Cent Kalyani Scheme etc. This information was given by the Minister of State for Women and Child Development Savitri Thakur in Lok Sabha.
